In a short span, the startup has made significant progress in its product engineering, he added.

Ultraviolette Founder and CEO Narayan Subramaniam said the company is building a high-performance electric motorcycle which will be enabled with features such as onboard diagnostics, preventive maintenance, and ride customisation.

"With this investment, we are looking to ramp up the development of high-end electric powertrains, battery modules and connected technology," Ultraviolette Founder and CTO Niraj Rajmohan said.

Two-wheeler market leader Hero MotoCorp has also made investments in Bengaluru-based startup Ather Energy, which had in June launched two electric scooters priced up to Rs 1.25 lakh.